Monday, Jun 22, 2009
Euro Cable Plc., the first private cable factory in Ethiopia, announced that it has launched production of all kinds of electric cables for the first time in the country.
General Manager of the factory, Saed Ibrahim told WIC that in addition to supporting efforts of expanding electricity in the country the launching of the production of the electric cables would facilitate successful housing development in Ethiopia.
The General Manager indicated that the factory was established with over 70 million birr capital in joint venture with Demes Kablo San.Tic.Ltd.Sti, a Turkish company, adding that the establishment of the company here in Ethiopia would play an important role in reducing the foreign currency expenditure of the country.
He recalled that electric cables were imported from abroad, adding that the locally produced electric cables would save 40 per cent of foreign currency expenditure.
In addition to transferring technologies to the country, the joint venture entered to production with well experienced Turkish experts, would facilitate ways to export the product to other countries.
He pointed out that the factory has set a plan to produce and supply large size cables for the telecommunication corporation. Moreover, the factory has finalized preparations to produce cables for TV antenna, satellite Dishes as well as various telephone installation works, he added.
While going fully operational the factory would have the capacity to produce six metric tones of electric cables in a month and create jobs for over 120 citizens, he added.